Coal Crisis: Anglo American Shuts Down Grosvenor Mine After Underground Incident
Portfolio Pulse from Lekha Gupta
Anglo American (OTC:AAUKF) has halted operations at its Grosvenor steelmaking coal mine in Queensland, Australia, following an underground coal gas ignition incident. The company expects the mine to be non-operational for several months, impacting its production guidance for the year.
July 01, 2024 | 3:47 pm
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Anglo American has halted operations at its Grosvenor steelmaking coal mine due to an underground coal gas ignition incident. The mine is expected to be non-operational for several months, impacting the company's production guidance for the year.
The halt in operations at the Grosvenor mine will significantly impact Anglo American's production guidance for the year. The mine contributes a substantial portion of the company's steelmaking coal output, and the expected downtime will likely lead to lower revenues and potential stock price decline.
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